Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Assets:    
Cash and cash equivalents $ 43,701 $ 71,663
Accounts receivable, net of allowance for credit losses of $191 and $182 as of March 31, 2024 and December 31, 2023, respectively 1,642 14,735
Contract assets, net 26,370 21,390
Inventory 34,680 33,348
Prepaid expenses and other current assets 22,129 14,843
Total current assets 128,522 155,979
Property, plant, and equipment, net 48,356 46,449
Other assets 16,020 17,885
Total assets 192,898 220,313
Liabilities and shareholders' deficit:    
Current portion of long-term debt 12,839 11,740
Accounts payable 24,791 22,850
Contract liabilities 111,549 103,924
Reserve for anticipated losses on contracts 620 977
Accrued expenses and other current liabilities 35,719 14,408
Total current liabilities 185,518 153,899
Long-term debt 179,421 171,033
Warrant and derivative liabilities 17,283 34,462
Other liabilities 17,756 18,555
Total liabilities 399,978 377,949
Commitments and contingencies (Note 12)
Shareholders' deficit:    
Preferred stock - authorized 50,000,000 shares of $0.0001 par value as of March 31, 2024 and December 31, 2023; zero issued and outstanding
Common stock - authorized 600,000,000 shares of $0.0001 par value as of March 31, 2024 and December 31, 2023; issued and outstanding shares of 201,279,662 and 199,413,917 as of March 31, 2024 and December 31, 2023, respectively 20 20
Additional paid-in capital 358,981 355,144
Accumulated deficit (566,255) (513,011)
Accumulated other comprehensive income 174 211
Total shareholders' deficit (207,080) (157,636)
Total liabilities and shareholders' deficit $ 192,898 $ 220,313